Before we begin the discussion, I will take a few minutes to read the forward-looking statement. Certain statements in this conference call constitute forward-looking statements within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. When used in this conference call, words such as “believe,” “expect,” “anticipate,” “project,” “plan,” “estimate,” “will” or “intend” and similar words or expressions as they relate to the Company or its management constitute forward-looking statements. These forward-looking statements reflect our current views with respect to future events and are based on currently available financial, economic and competitive data and our current business plans. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of such changes, new information, subsequent events or otherwise. Actual results could vary materially depending on risks and uncertainties that may affect our operations, markets, prices and other factors. Important factors that could cause actual results to differ materially from those forward-looking statements include those contained under the heading of risk factors and in the management’s discussion and analysis contained from time-to-time in the Company’s filings with the Securities and Exchange Commission.

Today, Cary Wood, our President and CEO, and Greg Slome, our CFO, will report our fiscal year 2011 third quarter financial results, provide an update on the status of our liquidity and capital resources, review the progress made with our recently acquired Frederick, Colorado operation, review the Byers Peak acquisition, and provide a brief update on the remainder of fiscal 2011. At the end of the narrative, we will allow our investors and other interested parties to ask questions related to the Company’s financial performance and operations. In fairness to all participants, we will ask that one question be asked at a time with the call ending at approximately 1:00pm EDT.

I would now like to turn the call over to Cary.

Cary Wood

Thanks Mike. Good morning and welcome to our fiscal 2011 third quarter call. Today, we will begin by reviewing our third quarter consolidated performance.

We are pleased to report fiscal 2011 third quarter operating income of $2.7 million and net income of $2.5 million or $0.25 per share, versus operating income of $0.4 million and net income of $0.7 million or $0.07 per share, for the third quarter of fiscal 2010. This is the seventh consecutive quarter in which the Company has posted pre-tax income, after reporting pre-tax losses for the previous 12 consecutive quarters. Included in the fiscal 2011 third quarter financials are the results of operations from the Delphi Medical Systems and Byers Peak acquisitions.

Our consolidated third quarter revenue was $50.4 million, increasing 30% or $11.7 million from the same period in the prior year. The overall increase in revenue reflects additional sales in the current year quarter from the acquisitions of Delphi Medical and Byers Peak, increased sonobuoy sales to the U.S. Navy from our DSS segment and improved Medical sales at our Ohio facility. These developments were partially offset by certain program losses from our EMS segment in the current year quarter.

Our gross profit in the third quarter of fiscal 2011 was $8.2 million compared to $5.6 million in the third quarter of fiscal 2010 and is the largest quarterly gross profit in over five years. The gross profit percentage increased from 14% a year ago to 16% in the fiscal 2011 third quarter. Impacting the quarter over quarter gross margin were improved results from the Company’s EMS and Medical segments, including higher margins achieved at the Frederick, Colorado facility, partially offset by the unfavorable impact of the decreased contribution of foreign sonobuoy sales from the Company’s DSS segment.

Selling and administrative expenses for the three months ended March 31, 2011 increased approximately $0.8 million from the prior year quarter, but decreased to 10% of sales from 11% in the prior year quarter. The additional expense reflects increased business development expenses, additional expenses related to the Company’s acquisitions of Delphi Medical and Byers Peak, partially offset by reduced information technology expense.

No restructuring or impairment charges were incurred in the third quarter of fiscal 2011 compared to $0.2 million in the same quarter of fiscal 2010. Income tax expense of approximately $0.1 million was recognized in the third quarter compared to an income tax benefit of approximately $0.1 million for the same period in the prior fiscal year. The fiscal 2010 benefit reflects the release of $0.2 million of deferred tax asset valuation allowances in relation to tax regulation changes related to carry-back provisions.

I would now like to turn over the next portion of today’s call to Greg so that he can update you on our individual segment results and our liquidity and capital resources.

Greg Slome

Thanks Cary.

Medical Device sales in the fiscal 2011 third quarter increased to $25.4 million, up 78% from the same period a year ago. Recurring sales at our Strongsville, Ohio facility increased to $14.6 million, up $0.3 million, or 2%, in the three months ended March 31, 2011 as compared with the same quarter last year. This increase reflects increased demand in one of the programs with our largest medical customer, partially offset by the fiscal 2011 disengagement with another customer. Incremental third quarter sales from the Company’s Frederick, Colorado facility and the partial quarter revenue from the Byers Peak acquisition totaling $10.8 million contributed to the overall increase in year-over-year sales. Fiscal 2011 third quarter revenue related to the Delphi acquisition continued to exceed our internal expectations.

The gross profit percentage on Medical sales increased to 14% from 10% for the three months ended March 31, 2011 and 2010, respectively. This increase in margin on Medical sales reflects the Company’s continued implementation of Lean Enterprise, product mix, its cost management efforts to mitigate decreased capacity utilization at the Company’s Strongsville, Ohio facility and higher margins achieved at the Company’s Frederick, Colorado facility.

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